Right to Buy leasehold properties all require buildings insurance to ensure the cost of rebuild and repairs is guaranteed if an insured peril occurs, such as a house fire or flood.
Most lease agreements state that the buildings insurance must be provided by Basildon Council. There are however a small number of leasehold properties where the buildings insurance IS NOT provided by Basildon Council and in these cases it is the responsibility of the homeowner to arrange a satisfactory buildings insurance policy.
The majority of leaseholders have their buildings insurance included in the quarterly service charge. These policies are arranged through Zurich Insurance PLC and are renewed automatically on the 1st January each year.
Leaseholders who do not pay a service charge and leaseholders who choose to join the Council's buildings insurance scheme will receive an annual invoice each February.
The premium charged is based on the sum insured and includes Insurance Premium Tax.
The sum insured of each property is based on rebuild costs rather than market value and can be reviewed if a leaseholder feels it does not currently reflect a realistic figure.
To make a claim on the Buildings Insurance Policy contact Zurich Insurance PLC:
Important: To ensure your policy remains valid you must inform us of any changes in your circumstances. Failure to inform us of any change in your circumstances could affect the validity of your insurance cover. For example you should inform us of any the following circumstances:
If your property is let or unoccupied then exclusions to your cover will apply. Please refer to the Policy Booklet for details
In leasehold properties for which buildings insurance IS NOT provided by Basildon Council it is the responsibility of the home owner to make certain an adequate policy is in place to guarantee the cost of rebuild or repairs to the property should an insured peril occur, such as a house fire or flood.
An up to date copy of the buildings insurance policy must be submitted to the Council's Insurance Team every year when the policy has been renewed. Failure to provide an up to date copy of the buildings insurance policy will result in the property being added to the Council's policy and the lessee charged accordingly.
Alternatively, you can choose to join the Council's buildings insurance policy, to obtain a quote please contact the Insurance Team with the rebuild sum insured for your property.